PARL Parlux Fragrances, Inc. (MM)

FORT LAUDERDALE, Fla., March 9 /PRNewswire-FirstCall/ -- Parlux Fragrances Inc (NASDAQ:PARL) announced today that it had filed a Form S-3 registration statement covering 1,780,000 shares of common stock underlying warrants to acquire such shares. The warrants, of which 57,000 have already been exercised, were last granted in May 2002 and cover all currently outstanding warrant obligations of the Company. The remaining unexercised warrants, if and when exercised, will generate cash and increase stockholders' equity by approximately $3.7 million. The dilution from their exercise would be only approximately 1% since, in accordance with generally accepted accounting principles, the Company already included approximately 1.6 million shares relating to the warrants as dilutive securities in calculating diluted earnings per share for the period ended December 31, 2005. Parlux Fragrances, Inc. is a manufacturer and international distributor of prestige products. It holds licenses for Paris Hilton fragrances, watches, cosmetics, handbags and other small leather accessories in addition to licenses to manufacture and distribute the designer fragrance brands of Perry Ellis, GUESS?, XOXO, Ocean Pacific (OP), Maria Sharapova, Andy Roddick, and Fred Hayman Beverly Hills. The Company may periodically release forward-looking statements pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company or its industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, future trends in sales and the Company's ability to introduce new products in a cost-effective manner. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. DATASOURCE: Parlux Fragrances, Inc. CONTACT: Ilia Lekach, ext. 116, or Frank A. Buttacavoli, ext. 117, both of Parlux, +1-954-316-9008 Web site: http://www.parlux.com/ Company News On-Call: http://www.prnewswire.com/comp/674987.html

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